Walmart replaces Eduardo Castro-Wright as U.S. CEO
Source: AdAge.com
Wal-Mart Stores has replaced Eduardo Castro-Wright as president-CEO of its massive U.S. division with the unit’s chief operating officer, Bill Simon, in a surprise move.
Mr. Castro-Wright, 55, remains vice chairman and continues in his role overseeing global e-commerce along with a new role as CEO of Global.com, Walmart’s global e-commerce unit. He’ll also continue to report to Walmart Stores CEO Mike Duke.
The move comes amid a series of disappointing top-line numbers for Walmart U.S., but Mr. Duke has been nothing but upbeat about the results, which have also included strong earnings and margin growth. And as Mr. Castro-Wright’s No. 2, Mr. Simon, 50, has been part of implementing Mr. Castro-Wright’s strategy along the way, both defending it and outlining some revisions to it in recent months.
